Does R&D Investment Drive Employment Growth? Empirical Evidence using Industry-Level from Japan

Shah, I.H., Kollydas, K., Lee, P.Y., Malki, I. and Chu, C. 2024. Does R&D Investment Drive Employment Growth? Empirical Evidence using Industry-Level from Japan. International Journal of Finance & Economics. 29 (1), pp. 102-118. https://doi.org/10.1002/ijfe.2677

TitleDoes R&D Investment Drive Employment Growth? Empirical Evidence using Industry-Level from Japan
TypeJournal article
AuthorsShah, I.H., Kollydas, K., Lee, P.Y., Malki, I. and Chu, C.
Abstract

Strong demographic headwinds have motivated Japan to strengthen its economy by fostering innovation. This paper draws on a panel of business enterprises operating in 33 industries in Japan to examine how research and development (R&D) activities affect employment. Our findings suggest that employment gains are associated with innovation, both at the aggregate level and within groups of major industries. The positive impact of technological advancement is more pronounced in the manufacturing sector. The results reveal heterogeneous patterns of the key determinants of employment growth based on the level of industries’ routine intensity, but they accord well with the compensation theory concerning the connection between innovation and job creation. These results will be of interest for policymakers to design targeted economic strategies by supporting technological development in Japan and could also serve as a compass for other countries with similar workforce structure and macroeconomic characteristics.

Keywordsinnovation
R&D expenditure
employment
routine-intensity
manufacturing
industry-level analysis
JournalInternational Journal of Finance & Economics
Journal citation29 (1), pp. 102-118
ISSN1099-1158
Year2024
PublisherWiley
Publisher's version
License
CC BY 4.0
File Access Level
Open (open metadata and files)
Digital Object Identifier (DOI)https://doi.org/10.1002/ijfe.2677
Web address (URL)https://onlinelibrary.wiley.com/doi/10.1002/ijfe.2677
Publication dates
Published online12 Jul 2022
Published in print2024

Related outputs

Connectedness Between Central Bank Digital Currency Index, Financial Stability and Digital Assets
Sivaprasad, S., Bas, T. and Malki, I. 2024. Connectedness Between Central Bank Digital Currency Index, Financial Stability and Digital Assets. Journal of International Financial Markets, Institutions and Money. 92 101981. https://doi.org/10.1016/j.intfin.2024.101981

Do returns and volatility spillovers exist across tech stocks, cryptocurrencies and NFTs?
Sivaprasad, S., Bas, T. and Malki, I. 2024. Do returns and volatility spillovers exist across tech stocks, cryptocurrencies and NFTs? Heliyon. 10 (2) e24615. https://doi.org/10.1016/j.heliyon.2024.e24615

Spill over effects of Geopolitical risk on the banking sector of CIS countries
Sivaprasad, S., Malki, I., Adami, R., Yodgorova, F. and Ibragimova, D. 2023. Spill over effects of Geopolitical risk on the banking sector of CIS countries. International Finance and Banking Society (IFABS), Oxford (2023). Oxford 24 - 26 Jul 2023 University of Westminster.

An Impact Investment Strategy
Juddoo, K., Malki, I., Mathew, S. and Sivaprasad, S. 2023. An Impact Investment Strategy. Review of Quantitative Finance and Accounting. 61, pp. 177-211. https://doi.org/10.1007/s11156-023-01149-0

The dynamics of income inequality in Africa: An empirical investigation on the role of macroeconomic and institutional forces
Enowbi Batuo, M., Malki, I. and Kararach, G. 2022. The dynamics of income inequality in Africa: An empirical investigation on the role of macroeconomic and institutional forces. World Development. 157 105939. https://doi.org/10.1016/j.worlddev.2022.105939

Comparative Analysis of Ethnic Minority Occupational Attainments in the UK 2014-2018
Kausar, R. and Malki, I. 2022. Comparative Analysis of Ethnic Minority Occupational Attainments in the UK 2014-2018. SSRN. https://doi.org/10.2139/ssrn.4090544

The dynamics of income inequality in Africa: An empirical investigation on the role of macroeconomic and institutional forces
Enowbi Batuo, M., Kararach, G. and Malki, I. 2022. The dynamics of income inequality in Africa: An empirical investigation on the role of macroeconomic and institutional forces. World Development. 157 105939. https://doi.org/10.1016/j.worlddev.2022.105939

Corporate social performance and financial risk: Further empirical evidence using higher frequency data
Ayton, Julie, Krasnikova, N. and Malki, I. 2022. Corporate social performance and financial risk: Further empirical evidence using higher frequency data. International Review of Financial Analysis. 80 (March) 102030. https://doi.org/10.1016/j.irfa.2022.102030

On the long-run dynamics of income and wealth inequality
Ghoshray, A., Malki, I. and Ordóñez, J. 2022. On the long-run dynamics of income and wealth inequality. Empirical Economics. 62, pp. 375-408. https://doi.org/10.1007/s00181-021-02043-1

An Impact Investment Strategy
Sivaprasad, S., Juddoo, K., Malki, I. and Mathew, S. 2021. An Impact Investment Strategy. International Finance and Banking Society(IFABS) 2021. online 13 - 15 Sep 2021

The Case of the United Kingdom: Mapping Localism, Resilience, and Civic Activism in Response to the COVID-19 Pandemic
Bradley, T., Malki, I., Ziniel, C. and Ghalib, A. 2021. The Case of the United Kingdom: Mapping Localism, Resilience, and Civic Activism in Response to the COVID-19 Pandemic. International Journal of Social Quality. 11 (1/2), pp. 145-175. https://doi.org/10.3167/IJSQ.2021.11010209

The share of the global energy mix: Signs of convergence?
Ghoshray, A. and Malki, I. 2021. The share of the global energy mix: Signs of convergence? Bulletin of Economic Research. 73 (1), pp. 34-50. https://doi.org/10.1111/boer.12232

A Structural Break Approach to Analysing the Impact of the QE Portfolio Balance Channel on the US Stock Market
Shah, I., Schmidt-Fisher, F., Malki, I. and Hatfield, R. 2019. A Structural Break Approach to Analysing the Impact of the QE Portfolio Balance Channel on the US Stock Market. International Review of Financial Analysis. 64, pp. 204-220. https://doi.org/10.1016/j.irfa.2019.05.010

Biosynthesis of spathulenol and camphor stand as a competitive route to artemisinin production as revealed by a new chemometric convergence approach based on nine locations’ field-grown Artemesia annua L.
Chemat, S., Boudjelal, S., Malki, I. and Lapkin, A. 2019. Biosynthesis of spathulenol and camphor stand as a competitive route to artemisinin production as revealed by a new chemometric convergence approach based on nine locations’ field-grown Artemesia annua L. Industrial Crops and Products. 137, pp. 521-527. https://doi.org/10.1016/j.indcrop.2019.05.056

A Note on the Modelling and Interpretation of a Public Goods Game Experiment
Lucas, P. and Malki, I. 2019. A Note on the Modelling and Interpretation of a Public Goods Game Experiment. Journal of Applied Statistics. 46 (4), pp. 737-753. https://doi.org/10.1080/02664763.2018.1508562

The Role of Higher Education on Economic Development: Theory and Empirical Evidence from the MENA Countries
Malki, I. 2017. The Role of Higher Education on Economic Development: Theory and Empirical Evidence from the MENA Countries. La revue des sciences commerciales (The Review of Business). 16 (2), pp. 71-83.

Microfinance and Household Poverty Reduction: Empirical Evidence from Rural Pakistan
Ghalib, A.K., Malki, I. and Imai, K. 2015. Microfinance and Household Poverty Reduction: Empirical Evidence from Rural Pakistan. Oxford Development Studies. 43 (1), pp. 84-104. https://doi.org/10.1080/13600818.2014.980228

Permalink - https://westminsterresearch.westminster.ac.uk/item/vx6qv/does-r-d-investment-drive-employment-growth-empirical-evidence-using-industry-level-from-japan


Share this

Usage statistics

65 total views
63 total downloads
These values cover views and downloads from WestminsterResearch and are for the period from September 2nd 2018, when this repository was created.